Blockchains can leave a big carbon footprint. Singapore-based New Era Energy has developed a blockchain-based framework called the Carbon Grid Protocol that is intended to help other blockchain companies offset emissions.

Bitcoin (BTC) alone has a carbon emission estimated to equal more than 500 kilos of carbon dioxide per transaction, reports Greentech Media, quoting data from Digiconomist.

Although the Carbon Grid Protocol could be used to offset the carbon emissions of almost any kind of business, New Era Energy CEO Andy Tan said his company is targeting blockchain firms now because each transaction is easy to track and tends to have a relatively high footprint.

The Carbon Grid Protocol is the first project out of Asia to be part of the Climate Chain Coalition, a blockchain initiative supported by the United Nations Framework Convention on Climate Change, he added. Read more here.

ThirtyK Staff
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